Sri Lanka Brodcasting Corporation

Fri09212018

Last updateThu, 13 Sep 2018 10am

Business News

There is a 3.1 percent growth in the workforce last year.

The Central Bank says there is a 3.1 percent growth in the workforce in Sri Lanka last year, when compared to the growth in the previous year. The population over 15 years is considered as the active contributors to the national economy. The amount was 8.3 million in 2016. It has increased up to 8.56 million last year.

The need to diversify exports and concentrate on diverse production sectors emphasized, in order to strengthen the rupee.

Since the rise of the US dollar against other currencies is a global trend, it needs to be debated in an economic perspective and not with the intention of gaining petty political mileage. Dr. Aminda Methsila Perera of the Faulty of Management at the University of Wayamba says, the government at this moment should identify this trend and device long term policies to meet with this situation. Speaking to the SLBC he pointed out, as it is necessary to strengthen the rupee, attention needs to be focused on diversifying exports and concentrating on diverse production sectors.

The decision to make meters compulsory for the three wheelers has been postponed until August this year

 

Chairman of the national council for road safety Dr. Sisira Kodagoda says the decision to make meters are compulsory for the three wheelers those transport passenger from today has been postponed until August this year. At a press briefing held in Colombo today, he said that this decision has been taken after considering the requests made by three wheel owners association. Many of them have agreed to fix meters and to issues receipts to passengers. Chairman of the All Island Three Wheel Drivers Association said that there should be a mechanism to regulate the Three Wheel Drivers. The government should give a concession to the three wheel owners to purchase meters

The government says, chemical fertilizers will be provided to farmers without any delay or shortage during the upcoming Maha season.

Minister Duminda Dissanayake assures that the  chemical fertilizer required for farmers during the upcoming maha season will be made available without any shortage or delay. A bag of 50 kilo gram of fertilizer will be sold at a subsidized price of 500 rupees through Agrarian services centres. A 50 KG bag for another crops will be sold at 1500 rupees.  Addressing the media briefing at his ministry today, the minister said, adequate amounts of fertilizer has been stored  in the warehouses island-wide. The minister requests the farmers and the public to inform any mal-practice or irregularities in distributing fertilizer via hot line: 0113 03 66 66

Many varieties of essential goods are available at Sathosa outlets at lower prices

The Chief Executive Officer of Sathosa Dr. S.H.M. Faraz said many varieties of essential goods are available at Sathosa outlets at lower prices. The prices of essential goods have been reduced based on the request made by the government. This process is implemented under the relief assistance programme to the common public. The main objective of this practice is to provide relief to the common masses and thereby bring down the cost of living.

SriLankan Airline to seek a strategic partner, with a new chairman and director board, while undergoing re-structuring

Loss-making state-run SriLankan Airline will seek a strategic partner, with a new chairman and director board, while undergoing re-structuring under a plan devised by aviation consultancy 'Nyras'. A committee of officials chaired by the Treasury Secretary, convened by the Chairman of the National Agency for Public Private Partnership, and the secretary of the Ministry of Public Enterprises will carry out the restructuring of the airline and a search for a strategic partner.

Read more...

The new Inland Revenue act comes into force

 

The new Inland Revenue act comes into force . Finance minister Mangala Samaraweera says the act will ease the burden on the low-income people and effectively implement the revenue laws on the high-income group. He notes that there has been no increase in tax revenue parallel to the upsurge in the country's income. The minister says Sri Lanka's tax revenue remains low when compared to other countries in the region.

According to him, the new Inland Revenue act will make it obligatory for eligible taxpayers to pay their taxes. The act aims to change the present ratios of direct and indirect taxes of 80 per cent and 20 per cent, to 60 per cent and 40 per cent respectively. Minister Samaraweera adds that the Treasury and the Inland Revenue Department have taken measures to realize that objective by 2020.

International ayurvedic exhibition will be held in Colombo in July.

Ayurvedha Expo 2018 the international ayurvedic medicine exhibition will be held in July at the BMICH in Colombo. The chamber of commerce in collaboration with the health ministry and several other state institutions has organized this event.

Read more...

The minimum train fare to remain the same, even though train fares are to be revised

 

The minimum train fare will remain the same, even though train fares are to be revised. Speaking to the SLBC, the General Manager of the Sri Lanka Railways, S M Abeywickrema said, a committee headed by the Additional General Manger Udaya Kumara has been entrusted with the task of detailing the procedure to be followed in the increase of train fares this year.

He added that the Ministry of Finance has given the go-ahead for amendments to be made to train fares. Once the approval is received, the amended fares will be gazetted.

Around 500,000 passengers travel by train every day. He added that 15 trains were added to the service this year. He also focused his attention on increasing goods transportation by rail, in order to increase revenue

SATHOSA is ready to provide essential goods at the reduced prices for the upcoming festive season.

Chairman of Lanka SATHOSA  Mohammed Rizwan Hamid  says that SATHOSA outlets are now ready to  cater to the needs of the customers for the  upcoming festive season. There are 400 outlets throughout the island at present. SATHOSA expects to open 15 more outlets before the Sinhala Tamil New year.SATHOSA Chairman further said that,

Read more...

Local News